All Forum Posts by: Charlie DiLisio

Sounds like a great location but I would check with building department in the event it has to be done by historical society standards.  that cost would be prohibitive.  I personally would want to see the place out of curiosity and the price of course would be nice to know.  The land may be worth a fortune if they allow you to tear it down.  Lots to do for your due dilligence.  

Put a ribbon of wire lath and stucco there.  It can easily be bumped out to show an overhang and there are many ways to insert decorative inserts as well.  Inexpensive and looks great.  Check with your local plastering suppliers and I'm sure they will have something you will like.  Good luck.

As a re-habber I have not had any horror stories but when you take over a property and remove walls I expect to find problems but nothing that could not be fixed with a little cash and hard work.  Most deals have both good and bad items attached to them and I take the good with the bad and deal with it accordingly.  My advice to anyone in this business is to be all in or find something else.  There are so many ways to make money thru all the many strategies on this site that I enjoy the adventure.  Best to you in your ventures.  

In theory yes but there are many things that we can't control but I am a firm believer in a positive outlook and that most things can be handled if focus is applied with energy and strong effort to overcome obstacles. REI is the best field I know of for a successful business.

I would be more worried if it wasn't there.  That is needed to prevent a leak when the elevation changes.  

Thank you for your service Dean.  I was Navy back in the day and Navy Federal is great as well.  I have also heard that Pen Fed has a great program as well.  Good luck in your ventures.  Every day above the ground is a good day and a blessing.  I am grateful I was born in the USA!

I use my credit unions.  Navy Federal, USAA, IBM, mmany small banks also don't require an appraisal, they use a service that gives accurate comps.

Why not consider doing a HELOC as an alternative. Most will give 80% and get a free appraisal as well as no closing costs. The only problem I see is some places won't do it because I'm assuming you don't live in the property itself but many will. Use the funds to buy another property and have the tenants pay the loan off. Since it is a loan there are no down sides for tax purposes and the rates are very low at this time. Just a thought! One month is really not that long either and you can re-list again so it shows up as a new property on the MLS. I don't know your market either since winter is approaching but I only see upside for you. Good luck and best regards.

Bonnie, I am very familiar with stucco here in south Florida and without more information it is not possible to advise you properly.  I suspect that the house is a wood frame or possibly covered over asbestos shingles.  If it is a block house it can be re-coated in two days.  It sounds like they did not install the wire lath properly and that may be the problem why it is cracking so much in which case it can be removed and redone by a qualified lather (paperback lath).  If you can tap on the wall and it seems hollow I would say it is loose wire lath.  If its cement block it should be firm if bonded to the block.  The age of the home can be a factor as well. The price is high for sure for that small of a house but not so much if they are quoting to remove the stucco and lath and re-do it.  We have lots of 1920's homes and they were wood frame and stucco but overtime and termites it can be lots of structural damage underneath.  I wish you well and if its not that old of a house and block it should be in-expensive to re-stucco.  Best regards.

Keith, I would get a quote from a drywall company or stucco contractor for their Spray finishes.  In south Florida  i get my ceilings and walls done with knockdown for about $1000.00 and then I paint them any color I like.  they have multiple designs and they can also make the walls smooth if you like but it will cost more money for smooth.